Wealthfront Advisers LLC Increases Stake in Hess Corporation (NYSE:HES)

Wealthfront Advisers LLC lifted its stake in shares of Hess Corporation (NYSE:HES - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,483 shares of the oil and gas producer's stock after acquiring an additional 6,208 shares during the period. Wealthfront Advisers LLC's holdings in Hess were worth $9,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. raised its holdings in shares of Hess by 1.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer's stock worth $528,000 after acquiring an additional 73 shares during the period. Allworth Financial LP raised its holdings in shares of Hess by 8.4% during the 1st quarter. Allworth Financial LP now owns 1,019 shares of the oil and gas producer's stock worth $163,000 after acquiring an additional 79 shares during the period. Kentucky Retirement Systems raised its holdings in shares of Hess by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 19,073 shares of the oil and gas producer's stock worth $3,047,000 after acquiring an additional 80 shares during the period. Stonegate Investment Group LLC raised its holdings in shares of Hess by 4.1% during the 1st quarter. Stonegate Investment Group LLC now owns 2,444 shares of the oil and gas producer's stock worth $390,000 after acquiring an additional 96 shares during the period. Finally, Wealth Alliance Advisory Group LLC raised its holdings in shares of Hess by 2.5% during the 1st quarter. Wealth Alliance Advisory Group LLC now owns 4,111 shares of the oil and gas producer's stock worth $657,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Performance

NYSE HES opened at $148.81 on Wednesday. The company has a market cap of $46.03 billion, a P/E ratio of 20.58 and a beta of 0.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 0.91. The stock has a 50-day moving average of $138.54 and a two-hundred day moving average of $141.07. Hess Corporation has a 1-year low of $123.79 and a 1-year high of $161.69.

Hess (NYSE:HES - Get Free Report) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Hess had a net margin of 17.65% and a return on equity of 21.78%. The business's revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.16 earnings per share. As a group, analysts anticipate that Hess Corporation will post 8.08 EPS for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group lifted their price target on Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Mizuho reduced their price target on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Piper Sandler raised their price objective on Hess from $147.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Scotiabank set a $155.00 price objective on Hess and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, Wall Street Zen raised Hess from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Hess currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.70.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 250,000 shares of Hess stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $136.01, for a total value of $34,002,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,734,679 shares of the company's stock, valued at $235,933,690.79. The trade was a 12.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.10% of the stock is currently owned by corporate insiders.

Hess Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.

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